Invest in India News

Vide Finance Act, 2017, a new clause (ab) was inserted in sub-section (1) of section 12A of the Income-tax Act, 1961 (‘the Act’) w.e.f 01.04.2018 to the effect that where a trust or an institution, which has been granted registration under sections 12A or 12AA of the Act has subsequently adopted or undertaken modification of the objects and such modification does not conform to the conditions of such registration, then such trust or institution shall be required to obtain registration again by making an application within a period of thirty days from the date

On the occasion of the visit of the Union Minister for Petroleum & Natural Gas and Skill Development and Entrepreneurship Shri Dharmendra Pradhan to Tokyo, India and Japan concluded the Memorandum of Cooperation (MoC) on Technical Intern Training Programme (TITP) on 17th October 2017.

Vide Finance Act, 2017, a new clause (ab) was inserted in sub-section (1) of section 12A of the Income-tax Act, 1961 (‘the Act’) w.e.f 01.04.2018 to the effect that where a trust or an institution, which has been granted registration under sections 12A or 12AA of the Act has subsequently adopted or undertaken modification of the objects and such modification does not conform to the conditions of such registration, then such trust or institution shall be required to obtain registration again by making an application within a period of thirty days from the date

Ministry of Tourism estimates monthly Foreign Exchange Earnings (FEEs) through tourism in India, both in rupee and dollar terms. Based on the credit data of Travel Head from Balance of Payments of RBI.

The highlights of the estimates of FEEs from tourism in India for September 2017 and Jan-September 2017 are as below:-

On the occasion of the visit of the Union Minister for Petroleum & Natural Gas and Skill Development and Entrepreneurship Shri Dharmendra Pradhan to Tokyo, India and Japan concluded the Memorandum of Cooperation (MoC) on Technical Intern Training Programme (TITP) on 17th October 2017.

Pursuant to the Memorandum of Understanding (MoU) between Department of Economic Affairs, Ministry of Finance, Government of India and the Government of United Arab Emirates (UAE) to mobilise long term investment into National Investment and Infrastructure Fund (NIIF), the first investment agreement between NIIF Master Fund and a wholly owned subsidiary of Abu Dhabi Investment Authority (ADIA) has been signed today. The investment from ADIA Group would be 1 billion USD.

Footwear Design & Development Institute (FDDI) has been declared an ‘Institute of National Importance’ under Ministry of Commerce & Industry, Government of India. The FDDI bill was passed by the Parliament in July 2017. The Provisions of FDDI Act 2017 have come into force from today, according to the Notification published in The Gazette of India on October 5, 2017.

The Inland Waterways Authority of India (IWAI) has raised Rs. 660 crore as “GOI Fully Serviced Bonds”. The resources raised by way of bonds are in addition to the budgetary support from the Government of India. The Government had taken a decision to enable IWAI to raise Rs 660 crore through GOI Fully Serviced Bonds in 2017-18.

The Minister for Communications Shri Manoj Sinha today launched the Sampoorna Bima Gram (SBG) Yojana and an initiative for expansion of clientele base of Postal Life Insurance. Talking to media after launching the schemes here, the Minister said that the vision of the Prime Minister Shri Narendra Modi to provide banking services through the postal network needs to be taken forward to provide affordable life insurance services to people living in rural areas of the country.

Minister of Petroleum and Natural Gas Shri Dharmendra Pradhan has said that the prepaid smart card (Retail and Fleet) launched by IGL for CNG consumers will be easily available and benefit common man in saving time in transactions at the CNG stations. Launching the cards here today he said this is an important step taken by GAIL and IGL for making life easy for residents of Delhi. Shri Pradhan said the initiative is part of Digital India Campaign envisaged by the Prime Minister Shri Narendra Modi to take country forward with the help of technology.

To reduce the cascading of taxes arising on account of non-inclusion of petrol, diesel, ATF, natural gas and crude oil in GST and to incentivise investments in the E&P (exploration and production) sector and downstream sector, the GST Council in its 22nd meeting held on 6thOctober, 2017 has made the following recommendations for GST rate structure for Specified Goods and Services:

The provisional figures of Direct Tax collections up to September, 2017 show that net collections are at Rs. 3.86 lakh crore which is 15.8% higher than the net collections for the corresponding period of last year. Net Direct Tax collections represent 39.4% of the total Budget Estimates of Direct Taxes for F.Y. 2017-18 (Rs. 9.8 lakh crore). Gross collections (before adjusting for refunds) have increased by 10.3% to Rs.